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MAGGIORE v. BRADFORD

Nos. 14790, 14823.

310 F.2d 519 (1962)

Mrs. Guilberta Dakin MAGGIORE et al., Plaintiffs-Appellants, v. J. C. BRADFORD et al., Defendants-Appellants.

United States Court of Appeals Sixth Circuit.

December 4, 1962.

Attorney(s) appearing for the Case

David Keeble, of Hooker, Keeble, Dodson & Harris, and W. Raymond Denney, of Denney, Leftwich & Osborn, Nashville, Tenn., Z. T. Osborn, Jr., E. J. Walsh, Nashville, Tenn., on brief, for plaintiffs-appellants.

William Waller, of Waller, Davis & Lansden, Nashville, Tenn., Clarence Evans, Cecil Sims, Nashville, Tenn., on the brief; Farris, Evans & Evans, Bass, Berry & Sims, Nashville, Tenn., of counsel, for defendants-appellants.

Before CECIL, Chief Judge, WEICK, Circuit Judge, and TAYLOR, District Judge.

WEICK, Circuit Judge.

The suit in the District Court was a stockholders derivative action. It was brought by minority stockholders of Phillips & Buttorff Corporation, a Tennessee corporation,1 to rescind a transaction whereby the controlling shareholders of P & B (hereinafter referred to as Comer Group) financed the purchase of their stock with funds derived from their sale to P & B of 60,000 shares of an unlisted stock owned...

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